Mangopay Expands Local Payouts to Five New Currencies Across APAC, LATAM, and EMEA

Mangopay has expanded its local payout capabilities to include five new currencies across the APAC, Latin America, and EMEA regions. By integrating the Australian dollar, Hong Kong dollar, Singapore dollar, Mexican peso, and Turkish lira, the provider allows platforms to bypass international transfer fees and FX conversions, streamlining cross-border operations for global marketplaces and service providers.

What was announced

Mangopay is now offering domestic payout routing for the Australian dollar (AUD), Hong Kong dollar (HKD), Singapore dollar (SGD), Mexican peso (MXN), and Turkish lira (TRY). This expansion is designed to help platforms pay out to sellers and beneficiaries using local payment rails instead of relying on the SWIFT network or other international transfer methods. By enabling payouts in the same currency in which funds are held, businesses can eliminate foreign exchange costs and reduce the time it takes for funds to reach recipients.

The move addresses a significant friction point in global scaling. Internal research from Mangopay indicates that 37% of enterprise platforms view country-specific payout restrictions as a major compliance hurdle. The infrastructure update aims to consolidate these requirements into a single integration, removing the need for platforms to establish separate banking relationships in every territory they enter.

The demand for these specific currencies is already evident in Mangopay’s transaction data. Over the last 12 months, the company has processed more than 15,000 payouts across these five currencies, totalling approximately £61 million (€70 million). This rollout builds upon the provider's existing Virtual Accounts product, which currently supports fund collection in 24 different currencies.

"As businesses expand internationally, the need to navigate different currencies, banking systems and payout requirements can add complexity and cost. Our research found that 37% of enterprise platforms identified country-specific payout restrictions as a compliance challenge, highlighting the operational difficulties businesses face as they scale across markets."

Andy Wiggan, CPO, Mangopay

The companies involved

Mangopay is a global provider of modular payment and wallet infrastructure, specifically tailored for platform-based businesses such as marketplaces and crowdfunding sites. Since 2022, the company has been under the majority ownership of Advent International, a global private equity firm. This backing has supported Mangopay’s transition from a niche European provider into a significant player in the global fintech ecosystem.

The company differentiates itself by offering a flexible, API-driven architecture that allows platforms to manage the entire payment flow, from pay-in to payout, within a regulated environment. With 44 stories covering their progress on FF News, Mangopay has established itself as a frequent mover in the embedded finance space. By focusing on the "wallet" aspect of the transaction—where funds are held in escrow or segregated accounts before being distributed—the firm provides the regulatory and technical heavy lifting that allows non-financial platforms to offer sophisticated payment services to their users across multiple jurisdictions.

What FF News has reported before

FF News has tracked Mangopay’s rapid product evolution and leadership changes over the past year. In late 2025, the publication covered the appointment of Andy Wiggan as Chief Product Officer, a move that signaled a renewed focus on product-led growth. The company’s technical momentum continued into 2026 with the launch of Echo, a tool designed to simplify multi-PSP payment flows for enterprise-level platforms.

Beyond infrastructure, Mangopay has also been active in the consumer-facing sector, notably through a partnership with ZYMIX to launch a social super-app for Gen Z payments in the UK. The firm’s industry standing was further cemented at the FF Awards 2025, where it was recognized among the top performers in the fintech sector.

What this means

This expansion highlights a shift in the platform economy where "global" is no longer enough; "local at scale" is the new requirement. As marketplaces mature, the tolerance for the "cross-border tax"—the combination of high FX fees and multi-day settlement delays—is evaporating. By providing domestic rails in high-growth markets like Mexico and Turkey, Mangopay is putting pressure on traditional correspondent banking networks that have long profited from these inefficiencies. The battle for platform dominance is moving downstream to the payout. While pay-ins were largely solved years ago, the complexity of distributing funds to global sellers remains a barrier. The question is whether specialized wallet providers can maintain their edge as generalist processors eye similar domestic capabilities.